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Kolkata Man Arrested For Buying LSD Online Using Cryptocurrency: Gurugram Cops
The Anti-Narcotics Cell of the Gurugram police has arrested a man hailing from Kolkata for allegedly procuring LSD from an international source using cryptocurrency , officials said on Friday.
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ED Seizes 'Biggest' Crypto Fund Worth Rs. 1,646 crore in PMLA Case
The ED has busted a mega money laundering scheme, seizing Rs. 1,646 crore of crypto assets. The ED case, filed under the Prevention of Money Laundering Act (PMLA), stems from an FIR of the Surat Police crime branch which said the alleged fraud that took place between November 2016 - January 2018 (after demonetisation).
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Income Tax Bill 2025 Clarifies Virtual Digital Asset Definition, Includes NFTs: Key Details
The Income Tax Bill 2025 classifies any cryptographically generated code, number, or token representing inherent value as part of the country's VDA ecosystem.
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Coinbase Plans India Re-Entry with UPI-Linked Services, Starts Discussions with Potential Partners: Source
Coinbase plans to compete with CoinSwitch and CoinDCX among others in the sector of India centralised exchanges. To facilitate their UPI-enabled crypto purchase plans, the exchange is prioritising partnerships with local partners for elements like KYC verifications – a step they had not taken the last time they attempted to enable this feature in...
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RBI Governor Says Crypto Discussion Paper Will Clarify India’s Stance on Virtual Assets; Industry Reacts
RBI Governor Sanjay Malhotra stated that the upcoming crypto discussion paper, being prepared under the Finance Ministry’s oversight, will provide clarity on the future of crypto assets in India. However, he did not specify a timeline for its release.
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WazirX Says Asset Rebalancing Complete, Invites Creditors to Raise Disputes
On February 10, WazirX announced the completion of its Net Liquid Platform Assets (NLPA) rebalancing, aligning token denominations with its assets and liabilities. The exchange has introduced three new tabs on its app and website, allowing users to view their rebalanced portfolio, their balance as of July 18, 2024, and the preliminary creditor list...
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ByBit Pays Rs. 9.27 Crore Penalty, Completes FIU-IND Registration
ByBit has announced that it has completed its registration with India’s Financial Intelligence Unit (FIU), and paid a Rs. 9.27 crore penalty, as part of its compliance obligations. Earlier this month, the FIU-IND revealed that the Dubai-based exchange was not in compliance with India’s the Prevention of Money Laundering Act (PMLA) because of wh...
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WazirX Tells Creditors to Approve Restructuring Scheme or Wait Till 2030 for Refunds
WazirX said if a majority of creditors vote against the scheme, they could have to wait for up to five years to get compensated for the funds they lost in the July 2024 hack. A company spokesperson told Gadgets 360 that the exchange plans to start the voting process by the end of February or early March.
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FIU-IND Levies Over Rs. 9 Crore Fine on Dubai-Based ByBit Crypto Exchange Citing PMLA ViolationsÂ
FIU-IND has levied a penalty of Rs. 9.27 crore on ByBit for continuing to operate in India without bringing its operations in compliance with India’s legal guidelines. For now, ByBit’s services here remain suspended. Â
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India Reviewing Crypto Position Due to Global Changes, Economic Affairs Secretary Says
India is reviewing its stance on cryptocurrencies. The review, which follows crypto-friendly policy announcements by US President Donald Trump, could further delay publication of a discussion paper on cryptocurrencies that was due for release in September 2024.
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Budget 2025: Crypto Industry Seeks Digital Asset Innovation, Simple Tax Structure and More
The Union Budget for 2025 is set to be announced on February 1. Apart from reiterating the need for a revision in crypto tax rates, Indian crypto firms have asked the government to prioritise steps that keep the country in competition with other regions, especially with regard to emerging technologies.
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CoinDCX Brings 'Bitcoin Chai Cafe' Crypto Literacy Campaign to Tea Stalls in Mumbai
CoinDCX's latest crypto awareness campaign, called 'Bitcoin Chai Cafe', has been launched in Mumbai. It aims to make crypto-related conversations common on traditional, small tea stalls – where office goers, students, and others from varied age groups gather for snacks and tea throughout the day.
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MobiKwik, CRED Launch CBDC eRupee in Partnership with RBI and Yes Bank
MobiKwik is the first digital wallet to go live with a full-scale production version of the e-rupee wallet, the new CBDC product is available to all its Android users. Yes Bank's role as the first sponsor bank to enable CBDC issuance for a third party application provider (TPAP) like CRED exemplifies its commitment to supporting the future of digit...
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Mudrex Resumes Crypto Withdrawals, Claims to Have Upgraded Compliance ProcessÂ
In an update shared on Tuesday, January 28, Mudrex said it has upgraded and automated its compliance process with Artificial Intelligence (AI). The platform said it had improved its systems to combat financial crimes.Â
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Singapore Court Approves WazirX’s Financial Restructuring Plan, Creditors to Vote Next
The Singapore High Court has approved WazirX's financial restructuring scheme, contingent on at least 75 percent of creditors voting in favour. If approved, WazirX will initiate the reimbursement process within ten business days of the scheme's effective date.
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Kolkata Man Arrested For Buying LSD Online Using Cryptocurrency: Gurugram Cops
The Anti-Narcotics Cell of the Gurugram police has arrested a man hailing from Kolkata for allegedly procuring LSD from an international source using cryptocurrency , officials said on Friday.
-
ED Seizes 'Biggest' Crypto Fund Worth Rs. 1,646 crore in PMLA Case
The ED has busted a mega money laundering scheme, seizing Rs. 1,646 crore of crypto assets. The ED case, filed under the Prevention of Money Laundering Act (PMLA), stems from an FIR of the Surat Police crime branch which said the alleged fraud that took place between November 2016 - January 2018 (after demonetisation).
-
Income Tax Bill 2025 Clarifies Virtual Digital Asset Definition, Includes NFTs: Key Details
The Income Tax Bill 2025 classifies any cryptographically generated code, number, or token representing inherent value as part of the country's VDA ecosystem.
-
Coinbase Plans India Re-Entry with UPI-Linked Services, Starts Discussions with Potential Partners: Source
Coinbase plans to compete with CoinSwitch and CoinDCX among others in the sector of India centralised exchanges. To facilitate their UPI-enabled crypto purchase plans, the exchange is prioritising partnerships with local partners for elements like KYC verifications – a step they had not taken the last time they attempted to enable this feature in...
-
RBI Governor Says Crypto Discussion Paper Will Clarify India’s Stance on Virtual Assets; Industry Reacts
RBI Governor Sanjay Malhotra stated that the upcoming crypto discussion paper, being prepared under the Finance Ministry’s oversight, will provide clarity on the future of crypto assets in India. However, he did not specify a timeline for its release.
-
WazirX Says Asset Rebalancing Complete, Invites Creditors to Raise Disputes
On February 10, WazirX announced the completion of its Net Liquid Platform Assets (NLPA) rebalancing, aligning token denominations with its assets and liabilities. The exchange has introduced three new tabs on its app and website, allowing users to view their rebalanced portfolio, their balance as of July 18, 2024, and the preliminary creditor list...
-
ByBit Pays Rs. 9.27 Crore Penalty, Completes FIU-IND Registration
ByBit has announced that it has completed its registration with India’s Financial Intelligence Unit (FIU), and paid a Rs. 9.27 crore penalty, as part of its compliance obligations. Earlier this month, the FIU-IND revealed that the Dubai-based exchange was not in compliance with India’s the Prevention of Money Laundering Act (PMLA) because of wh...
-
WazirX Tells Creditors to Approve Restructuring Scheme or Wait Till 2030 for Refunds
WazirX said if a majority of creditors vote against the scheme, they could have to wait for up to five years to get compensated for the funds they lost in the July 2024 hack. A company spokesperson told Gadgets 360 that the exchange plans to start the voting process by the end of February or early March.
-
FIU-IND Levies Over Rs. 9 Crore Fine on Dubai-Based ByBit Crypto Exchange Citing PMLA ViolationsÂ
FIU-IND has levied a penalty of Rs. 9.27 crore on ByBit for continuing to operate in India without bringing its operations in compliance with India’s legal guidelines. For now, ByBit’s services here remain suspended. Â
-
India Reviewing Crypto Position Due to Global Changes, Economic Affairs Secretary Says
India is reviewing its stance on cryptocurrencies. The review, which follows crypto-friendly policy announcements by US President Donald Trump, could further delay publication of a discussion paper on cryptocurrencies that was due for release in September 2024.
-
Budget 2025: Crypto Industry Seeks Digital Asset Innovation, Simple Tax Structure and More
The Union Budget for 2025 is set to be announced on February 1. Apart from reiterating the need for a revision in crypto tax rates, Indian crypto firms have asked the government to prioritise steps that keep the country in competition with other regions, especially with regard to emerging technologies.
-
CoinDCX Brings 'Bitcoin Chai Cafe' Crypto Literacy Campaign to Tea Stalls in Mumbai
CoinDCX's latest crypto awareness campaign, called 'Bitcoin Chai Cafe', has been launched in Mumbai. It aims to make crypto-related conversations common on traditional, small tea stalls – where office goers, students, and others from varied age groups gather for snacks and tea throughout the day.
-
MobiKwik, CRED Launch CBDC eRupee in Partnership with RBI and Yes Bank
MobiKwik is the first digital wallet to go live with a full-scale production version of the e-rupee wallet, the new CBDC product is available to all its Android users. Yes Bank's role as the first sponsor bank to enable CBDC issuance for a third party application provider (TPAP) like CRED exemplifies its commitment to supporting the future of digit...
-
Mudrex Resumes Crypto Withdrawals, Claims to Have Upgraded Compliance ProcessÂ
In an update shared on Tuesday, January 28, Mudrex said it has upgraded and automated its compliance process with Artificial Intelligence (AI). The platform said it had improved its systems to combat financial crimes.Â
-
Singapore Court Approves WazirX’s Financial Restructuring Plan, Creditors to Vote Next
The Singapore High Court has approved WazirX's financial restructuring scheme, contingent on at least 75 percent of creditors voting in favour. If approved, WazirX will initiate the reimbursement process within ten business days of the scheme's effective date.
